Inter & Co, Inc. (NASDAQ:INTR) Short Interest Down 8.8% in September

Inter & Co, Inc. (NASDAQ:INTR) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 6,430,000 shares, a drop of 8.8% from the September 15th total of 7,050,000 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average trading volume of 2,040,000 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of INTR. Fourth Sail Capital LP bought a new position in shares of Inter & Co, Inc. in the first quarter valued at approximately $9,155,000. Handelsbanken Fonder AB acquired a new stake in shares of Inter & Co, Inc. in the third quarter valued at $603,000. Samlyn Capital LLC grew its stake in shares of Inter & Co, Inc. by 4.1% in the 2nd quarter. Samlyn Capital LLC now owns 4,994,031 shares of the company’s stock worth $30,713,000 after purchasing an additional 196,355 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Inter & Co, Inc. by 70.7% in the 2nd quarter. Millennium Management LLC now owns 4,512,367 shares of the company’s stock worth $27,751,000 after purchasing an additional 1,868,527 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Inter & Co, Inc. by 152.9% during the second quarter. Marshall Wace LLP now owns 2,309,503 shares of the company’s stock valued at $14,203,000 after purchasing an additional 1,396,317 shares during the last quarter. Institutional investors own 22.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on INTR shares. UBS Group upped their price target on Inter & Co, Inc. from $6.50 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised shares of Inter & Co, Inc. from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $7.50 to $8.50 in a research report on Wednesday, October 9th. Finally, Citigroup started coverage on shares of Inter & Co, Inc. in a report on Tuesday, June 25th. They issued a “buy” rating and a $6.80 target price on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Inter & Co, Inc. currently has an average rating of “Buy” and an average target price of $7.56.

Inter & Co, Inc. Stock Performance

NASDAQ:INTR traded up $0.21 during mid-day trading on Wednesday, hitting $6.52. The stock had a trading volume of 1,425,805 shares, compared to its average volume of 1,441,373. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $7.01 and a 200-day simple moving average of $6.34. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 28.04 and a beta of 1.50. Inter & Co, Inc. has a 52 week low of $4.01 and a 52 week high of $7.84.

Inter & Co, Inc. (NASDAQ:INTR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Inter & Co, Inc. had a return on equity of 7.85% and a net margin of 8.85%. The company had revenue of $283.71 million for the quarter, compared to analysts’ expectations of $264.62 million. On average, research analysts expect that Inter & Co, Inc. will post 0.37 earnings per share for the current fiscal year.

Inter & Co, Inc. Company Profile

Inter & Co, Inc, through its subsidiaries, engages in the banking and spending, investments, insurance brokerage businesses. The company's Banking & Spending segment offers banking products and services, including checking accounts, cards, deposits, loans and advances, and other services.